Welcome to the February edition of Corporate Crime Matters.
This month our Corporate Crime and Fraud unit provides its insights on the recent amendments to the Criminal Finances Bill, the latest from the FCA and PRA on further changes to their enforcement processes and the PRA's record fine against the Bank of Tokyo Mitsubishi UFJ Limited. Our China team also comments on the new anti-corruption agencies in China.
As there will not be an appeal of Mr Justice Hildyard's decision in the RBS Rights Issue Litigation regarding the application of legal advice privilege, we wait to see whether the SFO will be successful in its fight for documents in its application against Eurasian Natural Resources Corporation heard in the High Court earlier this month, and whether the court will provide any further guidance on the application of legal advice privilege.
For our insights on all of these developments and more, please see the articles below. If you would like to discuss how your organisation may be affected, please get in touch with one of the team.
Criminal Finances Bill amended to freeze the assets of human rights
David McCluskey and Alison Gordon highlight recent amendments to the Criminal Finances Bill which target property obtained through gross human rights violations.
Update: FCA and PRA joint policy statement on enforcement decision
making processes following investigations
Emma Allen provides an update on the FCA/PRA's joint policy statement on enforcement decision making processes.
The PRA imposes fines on The Bank of Tokyo-Mitsubishi UFJ Limited
and MUFG Securities EMEA plc for failing to be open and
Natalie Todd comments on the PRA's recent record fine against The Bank of Tokyo.
China sets up new supervisory committee to further crack down on
Mike Goldammer and Rachel Yao provide an update on China's new anti-corruption agency.
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